USA: Gap Oct Same-Store Sales Rocket 11%
Troubled apparel giant Gap Inc finally had some good news on Thursday when it posted an 11 per cent jump in October same-store sales after 29 consecutive monthly falls and lifted its third quarter earnings outlook. The San Francisco-based operator of nearly 4,300 stores said total sales for last month soared 17 per cent to $1.2 billion from $1bn in the year-ago period, with quarterly sales up nine per cent to $3.6bn from $3.3bn in 2001.
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